Qiagen ‘on track to meet 2011 financial targets’

Qiagen has expressed confidence in meeting its financial targets for 2011 after delivering a level performance in the first quarter of the year.

The science company's net sales total for the three months came to $264.3 million (160.25 million pounds), which was roughly unchanged from Q1 2010, while earnings per share and free cashflow figures saw year-on-year increases.

According to the firm, performance in the first quarter was impacted by exceptional circumstances in locations such as Japan, with its overall strategic plan proceeding as intended.

In the last few months, it has made progress with the global rollout of QIAsymphony RGQ, agreed a deal to acquire Cellestis and signed important new collaboration deals.

Peer Schatz, chief executive officer of Qiagen, said: "The initiatives we have put in place are set to drive the improving performance during the course of 2011 and position us to further accelerate growth in 2012."

Last week, the company announced that it will be allying with Merck Sharpe and Dohme on the provision of a cervical cancer prevention programme in underprivileged Rwanda.